New Economic Model framework unveiled. The Prime Minister unveiled the broad framework for the New Economic Model (NEM) today at the Invest Malaysia 2010 conference. We had anticipated the launch in our Market Update on 28 Jan and as expected, the NEM outlined plans to raise per capita income from US$7.6k currently to US$15k in 10 years, and 6.5% p.a. GDP growth or higher to achieve developed nation status by 2020. The NEM essentially shifts the ethnic focus of the previous
National Economic Policy to one that focuses on the bottom 40% of households by income levels. The PM also highlighted six national key economic activities (NKEA) to be the engines of growth, including oil and gas, electronics, electrical, tourism, agriculture and financial services.
Market Update : New Economic Model : Broad Framework Unveiled-30/03/2010
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